VentureMed Group Raises Bridge Financing and Embarks on 2023 Objectives

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Jan 31, 2023, 12:34 ET

MINNEAPOLIS, Jan. 31, 2023 /PRNewswire/ -- VentureMed Group, Inc., a privately held medical device innovator in access management for arteriovenous (AV) fistulas and grafts and vessel preparation for interventional treatment of peripheral arterial disease (PAD) announced today that the company has raised bridge financing to support its 2023 objectives.

Endeavour Vision and RiverVest Venture Partners co-led the bridge funding, which covers five key objectives for 2023:

Continue to expand and build robust clinical data
Build upon existing library of publications and scientific presentations
Submit US reimbursement application targeting effective date of January 2024
Expand and generate awareness of VentureMed's "Disparities in Care" Initiative
Demonstrate commercial viability in selected OUS markets

"We continue to be impressed with the planning, execution and deliverables from the VentureMed team," said Alexander Schmitz, partner at Endeavour Vision. "We see 2023 as a pivotal year for the company with tremendous growth opportunities in both the AV and PAD segments".

"VentureMed is grateful for the ongoing strategic and financial support from our existing investors. 2022 was an important year for VentureMed where we accomplished significant milestones," commented Denis Harrington, VentureMed's President and CEO. "This solid foundation will be accelerated with this financing to achieve the additional objectives we have planned."

About VentureMed Group, Inc. and the FLEX Vessel Prep System

VentureMed Group, Inc. develops and markets innovative endovascular medical devices to solve unmet medical needs in the treatment of stenoses of AV fistulas and grafts and PAD. The FLEX VP System is a unique, non-balloon-based approach to optimizing revascularization. FLEX creates controlled-depth micro-incisions, releasing circumferential tension that may lead to improved vessel compliance, enabling luminal gain at lower pressure and with less vessel trauma, which may help limit restenosis. FLEX was designed to provide controlled and predictable pre-treatment to optimize outcomes in complex stenoses & lesions of any length or vessel morphology. The FLEX VP System received CE Mark and 510(k) clearance from the US Food and Drug Administration.

For more information, visit www.VentureMedgroup.com.

Media contact: Kathy Leith
[email protected]
(763-296-2026)

SOURCE VentureMed Group